US stocks closed lower amid dismal jobless claims data

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Source: Dukascopy Bank SA
© Scanpix/Reuters
US equities moved lower on Thursday amid dismal data from the domestic economy. The number of people applying for jobless benefits surged to 439,000 compared to a forecast of 375,000. Moreover, Philly Fed manufacturing index showed that manufacturing activity in the Philadelphia-region deteriorated more than expected this month. Adding to the bearish mood, investors remained concerned about a recession in the eurozone. The S&P 500 index shed 0.16% to close at 1,353.32. Only three in ten sectors within the index gained. The top-performers were financials and consumer goods. Comerica and BB&T climbed 0.54% and 1.7%, while Costco Wholesale and Autonation rose 1.3% and 1.87%. Meanwhile, NetApp soared 11.36% after Raymond James upgraded the company's stock rating from ‘market perform' to ‘outperform'. At the same time, Dell slid 0.21% after reporting a 47% slump in quarterly profits. Applied Materials fell 0.58% after posting a 24% drop in earnings last quarter.

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